Meet Them in St. Louis: Bankers Move

By

Dan Fitzpatrick

Dec. 13, 2012 8:34 p.m. ET

The U.S. securities industry is booming—just not on Wall Street.

Smaller cities around the nation have emerged as unlikely hives of financial-services hiring, thanks to lower wages, municipal-tax incentives and the misfortunes of older hubs that are home to companies ravaged by the 2008-2009 financial crisis.

The beneficiaries are spread across the U.S., according to an analysis of data by The Wall Street Journal. In St....